On February 24th the war began, and three months later Azovstal lay in ruins. Russia has reduced most of Mariupol, and other towns in eastern Ukraine, to burnt-out husks. Russian missiles and artillery have smashed railway stations, ports and telecoms towers, hit more than 1,000 schools and left roads and wheat fields pocked with craters. The physical damage came to $104bn at the end of May, according to the Kyiv School of Economics and the economy will shrink by up to 50% this year. Ukraine’s allies have promised cash to keep the country running during the war, and to rebuild it afterwards “to help a new Ukraine rise from the ashes of war”, says Paolo Gentiloni, the eu’s economy commissioner. Where will the money come from?

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